Romney threatens Iran with new sanctions

Press TV |

Republican presidential candidate Mitt Romney will say in his Monday speech that additional sanctions would be imposed against Iran over the country’s nuclear energy program if he is elected, CBS News reported.

“I will not hesitate to impose new sanctions on Iran, and will tighten the sanctions we currently have,” he is set to say in an address at Virginia Military Institute on Monday.

The United States has so far imposed unilateral financial and energy sanctions on Iran over its nuclear energy program.

Putting more pressure on Tehran over its peaceful nuclear program is one of the main topics of foreign policy speeches by American presidential candidates Romney and Barack Obama.

The Obama administration also threatened Iran with more punitive measures last week.

U.S. Secretary of Defense Leon Panetta also warned on Saturday that more sanctions would be imposed against Iran and called on the country “to engage seriously with the international community to try to resolve this issue.”


Key lawmakers in the U.S. Congress are looking at ways to expand economic sanctions on Iran. Economic Times

The proposals, still in the early stages of development, would aim to penalize foreign banks that handle any significant transactions with the Central Bank of Iran. Only oil-related transactions are now covered. Economic Times

The United States has long barred U.S. firms from doing business with Iran, but last December adopted measures that forced international buyers of Iranian oil to cut their purchases. Economic Times

In August, a second package of sanctions added further restrictions for international banks, insurance companies and oil traders.

The U.S., Israel and their allies say Tehran may intend to use its nuclear capability to produce nuclear weapons, a claim Iran rejects. Tehran insists its program is completely peaceful.